14629 W Erwin St - Apartments FOR SALE


Van Nuys, CA 91411
$12,250,000 USD
14629 W Erwin St, Van Nuys, CA for Sale
$12,250,000 USD
Apartments - FOR SALE
1/51
null | 5.1% Cap Rate

14629 W Erwin St
Van Nuys, CA 91411


HIGHLIGHTS

  • New development project - received TCO, waiting for certificate of occupancy.
  • Located in a thriving neighborhood with approximately 20 new multifamily development projects within the Van Nuys submarket
  • All units have expansive private balconies and in-unit washer/dryers.
  • Spacious, thoughtfully designed units, each featuring a private balcony and in-unit washer/dryer. Two massive penthouse units, enormous balconies.
  • Uniquely situated in an opportunity zone.
  • Proven strong rental demand and high occupancy rates, fueled by job growth, affordability, and an increase in population.

OVERVIEW

Built in 2025, this four-story, 24,115 SF Class A property presents a prime opportunity to invest in one of the San Fernando Valley’s most dynamic rental markets. This newly developed project has received its Temporary Certificate of Occupancy (TCO) and is awaiting the final Certificate of Occupancy. Ideally located near Sherman Oaks and North Hollywood, it offers tenants convenient access to major employment centers, retail corridors, and transit options. Each unit features modern finishes, in-unit washer/dryers, and private balconies, while the community offers an on-site fitness center and 27 gated parking spaces that enhance tenant appeal and retention. Two expansive penthouse units boast enormous balconies with panoramic views, providing an elevated living experience. With fee simple ownership, separately metered utilities, and strong market fundamentals, the property delivers efficient operations, stable cash flow, and long-term value in a high-demand Van Nuys submarket. Multifamily assets in this area historically achieve cap rates around 4.5%, offering investors the potential for consistent income, long-term appreciation, and exposure to a resilient, high-growth market supported by strong rental fundamentals.

FOR SALE DETAILS

PRICE

$12,250,000 USD

PRICE/SF

$508 USD /SF

# OF UNITS

22

PRICE/UNIT

$556,818

CAP RATE

5.1%

% LEASED

36%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

2025

PARKING SPACES

23

LAND DETAILS

LAND ACRES

0.32 AC

LAND SF

13,939 SF

ZONING

LAR3

APN/PARCEL ID

2241-011-020

ASK ABOUT THIS PROPERTY

Tony AzziMarcus & MillichapMore Info

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Tony AzziMarcus & MillichapMore Info

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.